The domestic energy companies are all owned by the public sector, which thus benefits directly from the revenues.
A heated debate is raging across Europe over how to pay the energy companies that take advantage of high gas, oil and electricity prices. The European Commission wants to propose upper limits for profit. Some countries in Europe (see chart) have already taken their own steps.
For Austria, Wifo expert Margit Schratzenstaller rejects a “special tax”, as is also demanded politically by some parties. “A special dividend would be more sensible. You don’t need to legislate, which would be complicated and problematic in terms of location policy. Since utilities usually belong to the states or the federal government, the dividend would go to the taxpayer anyway,” Schratzenstaller said in the “Krone” interview.
Moreover, these excess profits are “unexpected gains” that have arisen unplanned. All utilities must be 51% owned by the public sector, for example with Verbund it is 88%. According to Wifo, the small part that would go to private investors does not justify the introduction of an arbitrary profit tax.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
